The European Commission criticized President Donald Trump’s plans to impose reciprocal tariffs against trading partners (see 2502130030), calling it a “step in the wrong direction” and vowing to protect European businesses from any “unjustified tariff measures.”
Three Senate Democrats, including Senate Banking Committee ranking member Elizabeth Warren, D-Mass., have asked the Treasury Department whether it has exempted its Office of Terrorism and Financial Intelligence (TFI) from the Trump administration’s hiring freeze to ensure TFI can continue to carry out its national security mission.
India and the U.S. will negotiate a bilateral trade agreement that will cover multiple sectors in tranches, with the first aiming for completion in the fall of 2025, President Donald Turmp and Indian Prime Minister Narendra Modi said in their joint statement, released after their meeting Feb. 13. The two leaders also announced plans to increase U.S. military sales to India and possibly reduce defense trade restrictions under the International Traffic in Arms Regulations.
Sen. Pete Ricketts, R-Neb., and Reps. Claudia Tenney, R-N.Y., and Josh Gottheimer, D-N.J., introduced a resolution Feb. 13 urging the U.K., France and Germany to reimpose sanctions on Iran for violating its nuclear weapons-related obligations. Tenney said the “snapback” of U.N. sanctions needs to occur before they expire Oct. 18. The sanctions would include export controls, asset freezes and other restrictions on those involved in Iran's nuclear and missile activities. The lawmakers said the European action would complement President Donald Trump's recent efforts to increase Iran sanctions enforcement (see 2502050020).
Former President Joe Biden's administration made the most “aggressive and far-reaching use” of trade tools of any U.S. administration in history, and the new Trump administration is on track to “wield these tools in an even more aggressive manner,” Gibson Dunn said in a 2024 international trade recap released this month. Although the Treasury Department under Biden imposed sanctions at a faster rate than any of his predecessors, the law firm noted that President Donald Trump favors tariffs, which could cause the targets of those tariffs, including U.S. trading partners in Europe and Asia, to deploy similar tools “either in retaliation against U.S. measures or in pursuit of their own strategic interests.”
The Office of Foreign Assets Control on Feb. 13 sanctioned Karim Asad Ahmad Khan, the prosecutor for the International Criminal Court. The designation came days after President Donald Trump signed an executive order authorizing sanctions against people and entities linked to the ICC, including for issuing arrest warrants for Israeli officials accused of war crimes in Gaza (see 2502070022). OFAC didn’t release more information about the designation.
Although the new administration appears to be gearing up to build on U.S. outbound investment restrictions against China, President Donald Trump’s affinity toward dealmaking means that tighter rules aren’t a guarantee, an analyst said. Other analysts said the U.S. will face challenges trying to convince its allies in Asia, including Japan and South Korea, to also impose restrictions on outbound deals in China.
President Donald Trump has nominated John Hurley to be undersecretary of the treasury for terrorism and financial crimes and Thomas DiNanno to be undersecretary of state for arms control and international security, the White House told the Senate Feb. 11.
President Donald Trump has nominated congressional staffer Landon Heid to be assistant secretary of commerce for export administration at the Bureau of Industry and Security, the White House told the Senate Feb. 11.
A new European Parliament briefing published this week analyzes the state of EU sanctions against Russia, including developments last year and possible next steps that the bloc could take to increase pressure against Moscow.